April 11, 2022 — The IOST — Internet of Service Token — foundation, together with top venture capital institutions and ecosystem partners, has announced a $100-million exclusive incentive fund for Ethereum Virtual Machine (EVM) developers, aiming to incubate next-generation all-star projects and propel the growth of the platform’s multichain ecosystem.
On March 31, 2022, IOST unveiled the long-awaited roadmap’s secret weapon, Project Entroverse, to build a rapidly growing, interoperable and interconnected blockchain network.
IOST funds the grant in conjunction with its top-tier investment institutions, partners and nodes. The leading investor of the fund is Big Candle Capital (BCC). The scope of this exclusive fund is not limited to applicants developing decentralized apps (DApps) on the IOST chain exclusively; all outstanding projects deployed on other EVM-compatible chains with multichain development plans are also welcome to apply for support.
Details of the Entroverse fund
The newly announced $100-million fund under Project Entroverse consists of the New Ecosystem and Accelerator funds and targets developers worldwide.
- The New Ecosystem fund will be used to expand IOST’s on-chain applications, mainnet infrastructure and tools.
- The Accelerator fund will provide capital, fundamental analysis and incentive bonuses to development teams and projects through IOST.
Items under the New Ecosystem fund:
- Market analysis: Successful project applicants will be offered market research and in-depth industry research reports developed by the BCC team that has more than five years of experience in blockchain research.
- Token design: The project team will be assisted by BCC’s professionals that have rich experience from top global investment banks in developing its economic model and assisting the incubation in the initial stages.
- Structure design: The project team will be provided with targeted successful case studies, such as popular DApps, for reference.
- Promotion: The project team shall enjoy media support and promotion through BCC’s top-tier media connections and high-quality communities, with a large number of users
Items under the Accelerator fund:
- Non-dilutive funding: BCC will provide non-dilutive funding for teams building applications on the IOST chain, integrating the IOST mainnet and implementing IOST tools.
- Fundamental analysis: BCC will offer analytical support for skilled developer teams with no experience in the industry, allowing new projects to get startup capital quickly.
- Incentive bonuses: BCC will arrange irregular bonuses for startups and teams based on their user bases, activity and total value locked.
Headquartered in Singapore and located around big cities such as Barcelona, Tokyo, Seoul and Madrid, the BCC team consists of more than 40 experienced professional investment professionals, with first-class business capabilities and rich resources in the blockchain and traditional financial industries.
- The investment scope of BCC’s exclusive fund is not limited to applicants developing exclusive DApps on the IOST chain. Outstanding projects deployed on other EVM-compatible chains with multichain development plans are also welcome to apply for support.
- The main focus of BCC’s investments is on decentralized finance, nonfungible tokens, GameFi, Web3 and metaverse-based DApps. However, all innovative teams and ideas are welcome.
- BCC supports angel, seed, strategy, A-round, B-round, C-round and pre-initial public offering investments, including simultaneous investments in tokens and equity.
- Investments range from $30,000 to $5 million.
- BCC has a strong network and data analysis facilities centered in Asia. BCC examines projects and teams in detail based on this network and ecosystem to achieve the best return on investment.
- BCC makes diversified investments according to the assets’ life cycles and development trends to minimize risks.
BCC is familiar with blockchain technology and market structure. It provides auxiliary services such as capital, technology, token model, advertising, community building and connections with exchanges for invested projects.
Big Candle Capital sincerely invites all interested developers and teams to join the IOST multichain ecosystem. To contact the company, attach the below information and send an email to firstname.lastname@example.org:
- Project description
- Team introduction
- Financing status
- White paper
IOST and BCC to light up together
The top-tier talents from BCC will be facilitating IOST with technology, operations, investment management, research and analysts, secondary market operations and more. In addition, BCC’s plan to expand its worldwide connections and business network — including top exchanges, developers, wallets and media — shall add more valuable resources to IOST and its DApps.
Blake Jeong, chief media officer of IOST, said, “The cooperation between IOST and BCC, and subsequently, the launch of the IOST $100-million fund for EVM developers, is a game-changer for the IOST ecosystem. This incentive program offers long-term support for potential developers and projects, adding more killer DApps on the IOST blockchain while strengthening our global influence and the value of IOST for its long-term holders.”
More announcements on IOST’s Project Entroverse will be announced in April. To stay updated, follow IOST on: